Pub. L. 110-161, div. D, tit. VI, sec. 617

Pub. L. 110-161, div. D, tit. VI, sec. 617

EnactedYear: 2007Length: 167 wordsOfficial source
Sec. 617. Notwithstanding any other provision of law, for fiscal years 2008 and 2009, neither the Board of Governors of the Federal Reserve System nor the Secretary of the Treasury may determine, by rule, regulation, order, or otherwise, for the purposes of section 4(K) of the Bank Holding Company Act of 1956, or section 5136A of the Revised Statutes of the United States, that real estate brokerage activity or real estate management activity (which for purposes of this paragraph shall be defined to mean “real estate brokerage” and “property management” respectively, as those terms were understood by the Federal Reserve Board prior to March 11, 2000) is an activity that is financial in nature, is incidental to any financial activity, or is complementary to a financial activity. For purposes of this paragraph, “real estate brokerage activity” shall mean “real estate brokerage”, and “real estate management activity” shall mean “property management” as those terms were understood by the Federal Reserve Board prior to March 11, 2000.121 STAT. 2016
Pub. L. 110-161, div. D, tit. VI, sec. 617 | Justis AI